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Platinum Victory to increase shareholdings in Vinamilk at 11%
Ngoc Thuy 12:10, 2018/05/08
Platinum Victory has registered to purchase 14.51 million shares of Vietnam Diary Products Company (Vinamilk), announced the fund.
In case of completion, Platinum Victory will increase its shareholdings at Vinamilk to 11.03%, equivalent to 160.1 million shares. 
 
Vinamilk accounting for 50% of the dairy's market share.
Vinamilk accounting for 50% of the dairy's market share.
By the end of trading session on May 7, Vinamilk share price was traded at VND190,000 (US$8.35) per share, for which Platinum Victory would need at least VND2.7 trillion (US$118.6 million) for this transaction.
Platinum Victory is a subsidiary of Hong Kong - based Jardine Matheson. Jardine Matheson through its subsidiaries of Jardine Cycle & Carriage (JC&C) and Platinum Victory has invested in Vietnam for many years. 
Platinum Victory currently is the third largest shareholders at Vinamilk, after State Capital Investment Corporation (SCIC) at 36% and a group backed by Thai tycoon Charoen Sirivadhanabhakdi at nearly 20%. 
Jardine Matheson is one of Asia's biggest conglomerates which has interests in luxury hotels, motor vehicles, property, food retailing, transport financial services and agribusiness.
Vinamilk set its revenue target in 2018 of VND55.5 trillion (US$2.4 billion), up 8.5% yearly, stated in its document in preparation for the upcoming annual shareholder meeting by the end of March.
Under the plan, Vinamilk expected its pre-tax profit of VND12.8 trillion (US$567 million) and after-tax profit of VND10.7 trillion (US$473 million), increasing 4.7% and 4.6% over the last year's period, respectively. 
In 2018, the Board of Directors agreed to pay dividends equivalent to at least 50% of the company's after-tax profit in cash. 
Additionally, Vinamilk is expected to issue bonus shares in rate of 5:1 (shareholder for each 5 owned shares will receive additional 1 share), which will not exceed 290.3 million shares.
After the issuance, Vinamilk 's charter capital is estimated to increase by the maximum of VND2.9 trillion (US$128 million), to VND17.4 trillion (US$769 million).
Vinamilk's after-tax profit in 2017 reached VND10.2 trillion (US$452 million), up 10% over 2016, according to the company's financial statement. Its revenue was posted at over VND51 trillion (US$2.2 billion), increasing 9% over the same period of last year, in which domestic sale accounted for VND43.5 trillion (US$1.9 billion), up 14% yearly. 
The dairy industry posted revenue exceeding VND100 trillion (US$4.4 billion) last year, an increase of 10% over 2016, with Vinamilk accounting for 50% of the total number, according to the latest statistics.
The dairy market in 2020 is expected to double its size, reaching US$ 8.2 billion as Vietnam's population is projected to increase by 5 million people and personal income and dairy consumption are foreseen to increase at 15% and 7% compounded annual growth rate, respectively, according to in EU-Vietnam Business Network (EVBN)'s 2016 report.
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